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Lending

Lending protocols form the backbone of the decentralized money market, allowing users to lend or borrow digital assets without intermediaries. Using smart contracts, platforms like Aave and Morpho automate interest rates based on supply and demand while requiring over-collateralization for security. The 2026 lending landscape features advanced permissionless vaults and institutional-grade credit lines. This tag covers the evolution of capital efficiency, liquidations, and the integration of diverse collateral types, including LSTs and tokenized RWAs.

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Created: 2026/02/02 18:52

Updated: 2026/02/02 18:52

From DeFi infrastructure to RWA leader, how has Ondo seized every market opportunity?

Deng Tong, Jinse Finance On December 9, 2025, Ondo Finance announced that the U.S. Securities and Exchange Commission's confidential investigation into Ondo had concluded without bringing any charges. "This investigation aimed to examine whether Ondo's tokenization of certain real-world assets complied with federal securities laws, and whether ONDO tokens were securities." I. Original post from Ondo Finance's official blog The United States has taken a significant step towards tokenized securities. Ondo Finance has received formal notification that a long-running, secret investigation by the U.S. Securities and Exchange Commission (SEC) launched during the Biden administration to scrutinize digital asset companies has concluded without any charges being brought. This investigation aims to examine whether Ondo's tokenization of certain real-world assets complies with federal securities laws and whether ONDO tokens are securities. Ondo has fully cooperated with the investigation. Ondo firmly believes that regulated and transparent tokenization models like Ondo's not only meet investor protection principles but also strengthen them. This moment is a significant milestone not only for Ondo, but also for the entire tokenization industry. When the investigation began in 2024, the regulatory environment for digital assets in the United States was cautious, chaotic, and occasionally prone to over-enforcement. It was against this backdrop that Ondo: The first and largest tokenization platform for US Treasury bonds; One of the few companies focused on large-scale tokenization of publicly traded stocks; It quickly gained favor with global investors. Those who start early and achieve success will naturally be scrutinized. Amidst the collapse of cryptocurrency exchanges and the proliferation of speculative tokens in policy discussions, Ondo is leveraging public blockchains to build practical, user-friendly, and regulated financial products. As a result, these innovators, dedicated to developing the safest assets in traditional finance, find themselves embroiled in broader law enforcement actions. Ondo's growth and leading position in the emerging tokenization field have brought us into focus, but they are not a reasonable target of this investigation. As the investigation concludes, we will continue to uphold our consistent principles and remain firmly committed to innovation, compliance, security, and investor protection. A Shift in the Washington Situation: The Path to Tokenized Securities Becomes Clearer This decision also reflects a broader shift in U.S. policy. Regulators are reassessing Biden-era policies on digital assets. Washington has begun to reverse or moderate some of the aggressive measures taken by the previous administration, recognizing that innovation and investor protection are not mutually exclusive. Tokenization is now officially on the agenda of the U.S. Securities and Exchange Commission (SEC). The SEC's Investor Advisory Committee is assessing how tokenization can revolutionize the issuance, trading, and settlement processes of publicly traded stocks, a stark contrast to the SEC's enforcement-first stance in recent years. The market has already provided the answer: the adoption of tokenization technology is accelerating. Tokenization of US Treasury bonds has become one of the fastest-growing on-chain asset classes, while the recently launched tokenization of stocks is also showing strong growth momentum. The U.S. infrastructure is constantly evolving to support tokenization. Ondo's recent acquisition of Oasis Pro has given it a broker-dealer, alternative trading system (ATS), and transfer agent licenses, giving it a fully regulated business foundation in the U.S. tokenized securities space. The resolution of the SEC investigation marks the end of one chapter and the beginning of another for Ondo. In short, the time is ripe for tokenized securities to become a core component of the US capital markets. The future of global finance, including the US capital markets, will move towards on-chain transactions, and Ondo will lead this transformation. So what's next? On February 3, 2026, we will share the next phase of our roadmap at the Ondo Summit in New York, where we will bring together leading regulators, policymakers, and executives from the traditional financial sector to articulate our vision for a new era of on-chain finance. II. Overview of Ondo's Development Ondo Finance officially launched on July 27, 2021. Founded by Nathan Allman and Pinku Suran, Ondo aims to "accelerate the adoption of DeFi among mainstream investors by enabling sophisticated trading of risk." The protocol officially launched on the same day and offered four vaults at launch. Ondo's goal is to "bring institutional-grade financial products and services to a wider audience" by tokenizing traditional financial assets (such as US Treasury bonds, money market funds, bonds, stocks/ETFs, etc.), allowing ordinary users to access the returns and liquidity of traditional financial assets. Ondo's development trajectory clearly demonstrates its strategic upgrade from DeFi infrastructure to a core player in RWA, and its two major version iterations are a microcosm of the industry's transformation. Ondo V1: Focus on DeFi Infrastructure Ondo V1 was already running on Ethereum when it launched, and it was the first implementation of the protocol, with vaults and Liquidity as a Service (LaaS) as its core products. The following significant developments occurred during the development of this implementation: In November 2021, Ondo partnered with Fei Protocol to launch Liquidity as a Service (LaaS), designed to replace the traditional liquidity mining model. LaaS allows projects to increase the liquidity of their tokens on decentralized exchanges. Projects can deposit their tokens into Ondo's liquidity vault, and Fei will match them with an equivalent value of the FEI stablecoin. Ondo expanded its LaaS service through the following partnerships: In December 2021, Ondo partnered with Frax Finance to expand its LaaS product, with Frax Finance using its FRAX stablecoin to provide liquidity for tokens such as AMP. In May 2022, Ondo partnered with Angle Protocol to expand its LaaS offerings, with Angle Protocol using its agEUR stablecoin to provide liquidity for tokens such as PAL. It is worth noting that Ondo V1 has ceased service, and from March 5, 2024, users can only withdraw funds from it. Ondo V2: Becoming a Core Player of RWA Ondo V2 was officially launched in January 2023, and is the second implementation of this protocol. The following significant developments occurred during the development of this implementation: In January 2023, Ondo announced the launch of three tokens backed by U.S. Treasury bonds and corporate bonds. Although OSTB and OHYG have ceased issuance, the Ondo U.S. Government Bond Fund (OUSG) remains Ondo's most widely circulated token. In January 2023, Ondo announced the launch of Flux Finance (Flux) and initiated the Ondo DAO to manage Flux. In February 2023, Flux officially launched, and the first proposals to use ONDO tokens were approved. In April 2023, Ondo announced the establishment of the Ondo Money Market Fund (OMMF). In August 2023, Ondo announced the launch of Ondo Dollar Yield (USDY). In November 2023, Ondo opened the Ondo Bridge. In January 2024, the Ondo Foundation proposed to lift the "global lock-up" of ONDO tokens. This proposal included official details regarding the allocation, use, and future unlocking plans for ONDO tokens. The adoption of this proposal marked the "public offering" of ONDO tokens. In January 2024, the Ondo Foundation announced the Ondo Points program and launched the “first wave” of the program later that month. In February 2024, Ondo announced its plans for Ondo Global Markets (Ondo GM), a platform that will allow users to access traditional securities on-chain through tokenization. In March 2024, Ondo Finance launched 24/7/365 instant subscription and redemption services for OUSG, and a large portion of OUSG's assets were transferred to BlackRock's BUIDL Treasury Fund. In February 2025, Ondo Global Markets officially launched. The announcement stated that the tokens issued by Ondo GM would be backed 1:1 by the underlying assets. In March 2025, TVL reached $1 billion, thanks to compliance-first customer acquisition, the partnership with BitGo, and smart contracts that comply with US regulations. In June 2025, the team announced the formation of the Global Markets Consortium, which aims to "harmonize industry standards and promote the interoperability of tokenized securities." Members include the Solana Foundation, Bitget Wallet, Jupiter, Trust Wallet, Rainbow Wallet, BitGo, Fireblocks, 1inch, and Alpaca. In October 2025, Ondo submitted a letter to the U.S. Securities and Exchange Commission proposing to amend Nasdaq's rules on trading tokenized securities. III. Ondo's Secret: Seizing Every Market Opportunity Looking at the timeline above, from DeFi to RWA, and now to the SEC ending its investigation, Ondo has seized every market opportunity, which may be the secret to its continued popularity. In June 2020, the DeFi Summer erupted, with Compound launching its governance token COMP and initiating a liquidity mining mechanism—users could earn COMP token rewards by lending and borrowing on the Compound platform. This innovative model quickly ignited market enthusiasm and became the core driving force behind the DeFi Summer. However, by the second half of 2021, the unsustainability of liquidity mining became apparent: continuing to mine would lead to token inflation, while halting it would result in a liquidity crunch. Ondo recognized the pain points in the crypto market and launched "Liquidity as a Service": Projects deposit their native tokens into Ondo's dedicated liquidity pools within flexible timeframes, based on their own needs. Ondo then pairs these tokens with equivalent asset pools provided by partner entities such as Frax, Fei, and Angle, creating compliant and balanced liquidity pairs. These paired liquidity pairs are then deployed to designated decentralized exchanges (DEXs) to inject trading liquidity into the project's native tokens, ensuring smooth trading. Upon expiration of the partnership, Ondo withdraws the corresponding liquidity and mining profits from the exchanges. It then returns the assets to the project, pays the pre-agreed fixed interest to the partners, and returns any remaining profits to the project. At this time, Ondo was a DeFi infrastructure provider that solved the unsustainability problem caused by liquidity mining. In 2022, Terra's algorithmic stablecoin UST and its native token LUNA experienced a death spiral collapse, triggering a DeFi trust crisis overnight. Against this backdrop, Ondo turned its attention to the RWA track, which was then truly emerging and entering a phase of rapid development. In 2023, Ondo V2 was launched, with its core product being tokenized U.S. Treasury bonds (OUSG). OUSG's underlying asset is the iShares Short-Term U.S. Treasury ETF from BlackRock, ensuring both security and liquidity, thus giving OUSG a low-risk profile. OUSG can be integrated with DeFi protocols such as Flux Finance that support compliant, licensed assets. After acquiring the tokens, investors can transfer ownership between each other and engage in lending and other financial activities through compliant smart contracts. The launch of OUSG demonstrates the feasibility of tokenizing low-risk traditional financial assets. The SEC, led by Gensler, has frequently targeted the crypto market. Two years ago, the crypto industry experienced a regulatory "winter," and in October 2023, the SEC launched an investigation into Ondo. The SEC's core focus was whether Ondo's tokenization process of its U.S. Treasury products complied with securities regulations, and whether the ONDO token should be considered a security. This investigation lasted for two years. On October 6, 2025, Ondo Finance completed the acquisition of Oasis Pro, an SEC-licensed brokerage firm. This acquisition aimed to help Ondo advance its tokenized securities business within a compliant framework. On December 6, Ondo submitted its tokenized securities roadmap to the SEC, advocating for support for multiple asset ownership models and promoting broader on-chain integration to help the United States maintain its leading position in the asset tokenization transformation. Following its compliance efforts, Ondo has not faced any charges, a significant regulatory boon for the crypto industry. Conclusion From DeFi to RWA, and then to compliant development, Ondo has accurately grasped industry trends and seized every opportunity brought by emerging trends. Now that the SEC investigation has concluded, Ondo is completely free of constraints. Where will Ondo set its sights in the future? Perhaps the New York Summit in February 2026 will provide us with an opportunity to find out.

Author: PANews

2025/12/10

KindlyMD Turns to Kraken as Fourth Provider for Bitcoin-Backed $210M Loan at 8%

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KindlyMD Turns to Kraken as Fourth

Author: Coindesk

2025/12/10

Speed Is The Currency, And Risk Is The Language. Whoever Owns It Builds The Market

Interview with Aleksei Eroshenko, fintech entrepreneur, CEO and architect of international instant lending services. Microcredit in emerging markets is often perceived as a high-risk business. But there is a category of entrepreneurs for whom risk is not a threat, but a structural element of the model. Aleksei Eroshenko is one of them. In ten years, […] The post Speed Is The Currency, And Risk Is The Language. Whoever Owns It Builds The Market appeared first on TechBullion.

Author: Techbullion

2025/12/10

Binance Co-CEO’s WeChat Hacked in Pump-and-Dump

The post Binance Co-CEO’s WeChat Hacked in Pump-and-Dump appeared on BitcoinEthereumNews.com. Binance co-CEO Yi He’s WeChat account was hacked to promote MUBARA meme coin. Hackers accumulated 21.16 million MUBARA tokens before executing pump-and-dump scheme. Yi He recovered the account through external verification and password change. Binance co-CEO Yi He successfully recovered her compromised WeChat account on December 9, 2025 after hackers used the platform to plan a pump-and-dump scheme involving the MUBARA meme coin. The breach occurred just days after Yi He’s promotion to co-CEO alongside Richard Teng during Binance Blockchain Week. Changpeng Zhao, Binance founder, issued a public warning on X urging users not to purchase meme coins promoted through the hacked account. Hackers target Binance co-CEO’s dormant WeChat account The attackers compromised Yi He’s old WeChat account linked to a phone number no longer under her control. The dormant account provided an entry point for the social engineering attack. Yi He suspects the hackers posed as friends seeking help and feedback before taking full control of the account. The tactic allowed them to establish credibility and access to her contact list. The timing of the attack coincided with Yi He’s elevated profile at Binance. Her recent promotion to co-CEO gave the compromised account more potential reach and credibility among crypto traders. The hackers prepared the scheme carefully, establishing two new wallets approximately seven hours before posting fraudulent messages. MUBARA token surges 700% as fake endorsement spreads Blockchain analysis firm Lookonchain documented the scheme’s execution. The attackers quietly accumulated 21.16 million MUBARA tokens by spending 19,479 USDT through PancakeSwap and other decentralized exchanges on BNB Chain. Someone hacked @heyibinance‘s WeChat account, and posted about $Mubarakah, sending the token’s price soaring. @cz_binance The hacker created 2 new wallets(0x6739 and 0xD0B8) ~7 hours ago and spent 19,479 $USDT to buy 21.16M $Mubarakah. After the pump, the hacker has already… pic.twitter.com/39ncDQjgSe — Lookonchain…

Author: BitcoinEthereumNews

2025/12/10

Ripple Releases XRP Ledger (XRPL) Upgrade to Boost Stability, DeFi: Details

The post Ripple Releases XRP Ledger (XRPL) Upgrade to Boost Stability, DeFi: Details appeared on BitcoinEthereumNews.com. In today’s big XRP news, Ripple has officially released a major upgrade to XRP Ledger (XRPL). The major upgrade introduces significant changes, optimizations, and critical fixes to boost network stability and expand decentralized finance (DeFi) capabilities. It comes as part of Ripple’s latest roadmap, placing stablecoins and tokenized real-world assets (RWAs) at the center of its institutional DeFi strategy. XRP Ledger v3.0.0 Upgrade to Boost Ripple’s Position in DeFi Ripple introduces rippled v3.0.0, the core server software that powers the decentralized XRP Ledger (XRPL) network. It marks a major milestone for the XRPL network, with reliability improvements, fixes, and innovations such as a native lending protocol, as Ripple boosts XRP and RLUSD adoption. Node operators are urged to upgrade to the new version immediately to ensure service continuity. It also mentioned installation packages and instructions for updating to the latest version. The upgrade introduces major amendments, optimizations, and bug fixes, said Krippenreiter. He highlighted “fixIncludeKeyletFields” amendment, which adds missing keylet fields to ledger entries related to escrow and payments. There are even more fix amendments. 😳 If we check here 🧐👉 “include/xrpl/protocol/detail/features.macro” … and look at “supported::yes”, these are all the new amendments that have been added in v3.0.0: 🔸 TokenEscrowV1🔸 fixPriceOracleOrder🔸 fixMPTDeliveredAmount🔸… https://t.co/D7kxbfY4K7 pic.twitter.com/mpyHREUOFV — Krippenreiter (@krippenreiter) December 10, 2025 Key Changes in XRP Ledger Similar to its successful Smart Escrow Devnet update, changes were made related to fees and reserves, function signatures, multi-purpose token (MPToken) issuance, as well as bug fixes and code cleanup. The amendment fixes accounting errors in MPT escrows, adds missing keylet fields to several ledger entries, and improves transaction transparency. Moreover, it resolves rounding issues in automated market maker (AMM) transactions, ensuring precise LP token balances. The ‘simulate API method’ now supports new metadata fields, which expands the capabilities of analytical and DeFi tools.…

Author: BitcoinEthereumNews

2025/12/10

Top 8 Crypto Coins for 2026: Why BNB, XRP, LINK, and AVAX Investors Are Moving to BlockchainFX

Investors eye 2026 rotation as BTC holds $90K and interest shifts from majors like BNB XRP LINK and AVAX to BlockchainFX amid rising presale momentum and multi asset utility.

Author: Blockchainreporter

2025/12/10

UK confirms new digital assets tax reporting rules for January 2026

The post UK confirms new digital assets tax reporting rules for January 2026 appeared on BitcoinEthereumNews.com. Homepage > News > Business > UK confirms new digital assets tax reporting rules for January 2026 The United Kingdom government confirmed in its 2025 Budget that it will implement new rules mandating digital asset traders to report personal details to trading platforms for tax purposes, beginning January 1, 2026. Chancellor of the Exchequer Rachel Reeves revealed this year’s Budget on November 26, confirming the new tax reporting rules that were first introduced by HM Revenue & Customs (HMRC) back in May. The U.K. government’s new data collection plan follows the introduction of the Organisation for Economic Co-operation and Development’s (OECD) Cryptoasset Reporting Framework (CARF), a global tax transparency initiative designed to set a standard for tax reporting and improve the exchange of information between countries on digital asset transactions, to combat tax evasion. Under the incoming rules—now confirmed by the budget—digital asset companies must begin collecting detailed information from January 1, 2026, from all U.K. users, including both individuals and businesses, covering name, date of birth, home address, country of residence, legal business name, and main business address. Firms will also need to carry out due diligence to verify that the information they collect is accurate, said HMRC, adding that they would “update the guidance with information about how to do this in due course.” Once collected by digital asset companies, the information must be reported to HMRC in 2027. The tax authority will then use it to check completed tax returns and identify any individuals who haven’t correctly reported their cryptocurrency profits. HMRC warned that failure to comply with the new rules, including the submission of inaccurate, incomplete, or unverified reports, could result in penalties of up to £300 ($401) per user. The new tax reporting rules are forecast to raise £315 million ($417.3 million) in tax by…

Author: BitcoinEthereumNews

2025/12/10

Pudgy Party Triumph: Mobile Game Smashes 1 Million Downloads and Wins Major Awards

BitcoinWorld Pudgy Party Triumph: Mobile Game Smashes 1 Million Downloads and Wins Major Awards The world of Web3 gaming just witnessed a spectacular triumph. Pudgy Party, the flagship mobile game from the beloved Pudgy Penguins NFT collection, has officially surpassed a monumental one million downloads. This milestone, achieved across both the Apple App Store and Google Play Store, signals a powerful surge in mainstream adoption for NFT-powered entertainment. But […] This post Pudgy Party Triumph: Mobile Game Smashes 1 Million Downloads and Wins Major Awards first appeared on BitcoinWorld.

Author: bitcoinworld

2025/12/10

Twenty One Capital ($XXI) Slumps 20% On Debut As Strive Plans $500M Offering To Buy More Bitcoin

The Bitcoin price jumped 2.7% in the past 24 hours to trade at $92,880 as of 2:32 a.m. EST on trading volume that rose 17% [...]

Author: Insidebitcoins

2025/12/10

The TechBeat: Building a RAG System That Runs Completely Offline (12/10/2025)

How are you, hacker? 🪐Want to know what's trending right now?: The Techbeat by HackerNoon has got you covered with fresh content from our trending stories

Author: Hackernoon

2025/12/10

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Lending

From DeFi infrastructure to RWA leader, how has Ondo seized every market opportunity?

KindlyMD Turns to Kraken as Fourth Provider for Bitcoin-Backed $210M Loan at 8%

Speed Is The Currency, And Risk Is The Language. Whoever Owns It Builds The Market

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